by Phyllis Rockower | Jul 16, 2013 | Economic News
From May 3 to July 12th , interest rates really zoomed. Is it enough to stall the housing recovery? Fannie Mae’s Mark Palim says there is no historical precedent for knowing the impact on the housing market of an interest rate change, either up or down, because...
by Phyllis Rockower | Jul 13, 2013 | Housing News
The average 30 yr mortgage rate jumped to 4.51% for the seven-day period ending on July 10th. That is an increase from 4.29% a week earlier and 3.98% for the second week in June. The higher rates increased monthly principle and interest payments by roughly 6.5%....
by Phyllis Rockower | Jul 13, 2013 | Economic News
Most banks initiate loans and then sell them off and merely remain as servicing agents. A portfolio lender holds loans in its own portfolio. The big bank boondoogle in the last few years was caused in part by the massive selling off of bad loans to unsuspecting...
by Phyllis Rockower | Mar 19, 2013 | Uncategorized
The federal reserve states that home equity has jumped nearly 500 billion during the last 3 months of 2012. That means that less folks are underwater so now they can sell if they choose. This will help to cure the severe housing inventory situation. Zillow Real Estate...
by Phyllis Rockower | Sep 15, 2012 | Economic News, Real Estate News
In an effort to boost the housing market, the federal reserve has taken a new and unusual step. Instead of merely buying treasury bonds to lower mortgage rates, it is now going to buy mortgage backed securities. You know them- the toxic ones that caused the problem in...
